Head of Credit & Risk

Vayu

New York City, NY, US
  • Job Type: Full-Time
  • Function: Accounting/Finance
  • Post Date: 04/01/2021
  • Website: www.vayupayments.com
  • Company Address:

About Vayu

Vayu is re-imagining the trillion-dollar U.S. B2B card payments infrastructure, with a focus on the country’s 500,000 commercial fleets, 10 million commercial vehicles, and 4 million commercial drivers. The incumbent technologies that cater to these customers are decades old, and drivers, fleets, and the merchants that serve them all increasingly demand modern digital experiences and affordable and transparent financial services products. Vayu’s mission is to deliver them at a transformational scale, and to improve working lives in one of the country’s biggest industry sectors. The company is currently in stealth and will officially launch in 2021.

Job Description

Vayu is re-imagining the trillion-dollar U.S. B2B card payments infrastructure, with a focus on the country’s 500,000 commercial fleets, 10 million commercial vehicles, and 4 million commercial drivers. The incumbent technologies that cater to these customers are decades old, and drivers, fleets, and the merchants that serve them all increasingly demand modern digital experiences and affordable and transparent financial services products. Vayu’s mission is to deliver them at a transformational scale, and to improve working lives in one of the country’s biggest industry sectors. The company will officially launch later in 2021.

Vayu is co-founded and led by Daniel Simon, who previously cofounded Bread (breadpayments.com), a leading payments and credit technology firm backed by some of the world’s top VCs, and Andrew Woolf, a former executive at Lyft and Amplify. We are backed by top fintech & mobility venture funds – including Better Tomorrow Ventures, Bessemer Venture Partners, BoxGroup, Avid Ventures, Foundation Capital, Greycroft, and Colle – and premier angel investors – including Max Levchin (Affirm), Josh Abramowitz (Bread), Jason Gardner (Marqeta), William Hockey (Plaid), Ryan Petersen (Flexport), and many others. 

The Credit and Risk Leader is a senior role that will take ownership over credit strategy and will also do the hands-on work of implementing and monitoring it.

Responsibilities

  • be responsible for authoring and owning all of Vayu’s initial credit risk policies, with an early focus on SMB underwriting and line management but ultimately including full lifecycle through collections and charge-off;
  • be responsible for projecting and monitoring portfolio performance and losses;
  • interface with credit capital markets in discussions of the portfolio;
  • use best practices of traditional risk data and methods;
  • and constantly integrate and evaluate newer sources and approaches.

Requirements

  • understand the full SMB credit lifecycle, from acquisition and origination to collections and charge-off;
  • be familiar with the governing legal and regulatory landscape;
  • communicate very clearly, to internal and external as well as technical and non-technical audiences;
  • be comfortable with modern statistical tools and techniques and demonstrate an ability to work with data and construct models;
  • and be able to work independently with little oversight or management in a fast-paced, dynamic environment with high-energy and mission-driven colleagues.

Critically, the candidate must be practical and business-minded, smart and creative, and excited about the rewards and volatility of an early-stage venture-backed startup.

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Disclaimer: Local Candidates Only
This company does NOT accept candidates from outside recruiting firms. Agency contacts are not welcome.